CBRE is pleased to announce the successful sale of Soda Factory, West End on behalf of Region Group for $42m, representing a premium to book value.

CBRE’s Joe Tynan and Michael Hedger have been working with the HNW Private Investor for some time and identified Soda Factory as a target asset. Through a direct approach to the vendor, we were able to negotiate and achieve a strong result.

Through a number of on-market processes that CBRE have conducted over the past 12 months, we are dealing with the most active capital on a daily basis, and as a result we are able to successfully identify and place these groups into future opportunities on and off-market. 

The Soda Factory has a rich history spanning back 100 years as it was used as a soda and bottling facility which the previous developer has paid homage to. Anchored by a strong performing Coles Supermarket and further supported by 21 additional retailers with a focus on food and beverage and allied health retailers - located in a strategic location only 1.5km of the Brisbane CBD. 

Positioned on an expansive circa 1ha inner city corner allotment, West End is continuing to evolve and transform into a lifestyle destination and this investment presented significant underlying land value. 

The sale of Soda Factory West End represents the closest neighbourhood shopping centre to the Brisbane CBD that has sold in the past 5 years.  

The buyer, a highly award commercial and residential group, were a highly active group in the market and have a deep connection to the West End precinct and this exciting acquisition of Soda Factory underscores their long-term vision for the asset.

Joe Tynan said “CBRE have been working closely with this group for the past 12 months on multiple investment opportunities and it was our extensive relationship and understanding of their current mandates that allowed us to identify Soda Factory as a perfect fit”.

Mr Hedger said “We are seeing more activity from traditional development companies acquire income producing assets that they can add value to with a long term vision, given the continual pressure put on the construction industry”.

Related Readings 

Adelaide’s landmark Westfield Tea Tree centre acquired for $308 million by Scentre Group and Barrenjoey - CBRE 

Karratha City shopping centre sold $95.9 million off market by CBRE

Stockland Bundaberg sold for $140m by CBRE  | Commo.

The Forum Surfers Paradise for sale - CBRE & Colliers